Q2 (NYSE:QTWO) Shares Gap Up on Analyst Upgrade

Q2 Holdings, Inc. (NYSE:QTWO) gapped up before the market opened on Thursday after Stifel Nicolaus raised their price target on the stock from $115.00 to $125.00. The stock had previously closed at $92.02, but opened at $99.87. Stifel Nicolaus currently has a buy rating on the stock. Q2 shares last traded at $96.35, with a volume of 329,835 shares changing hands.

QTWO has been the topic of a number of other research reports. DA Davidson increased their price objective on shares of Q2 from $76.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Stephens increased their price target on shares of Q2 from $75.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Piper Sandler boosted their price objective on shares of Q2 from $74.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Robert W. Baird reiterated a “neutral” rating and issued a $99.00 price objective (up from $89.00) on shares of Q2 in a research report on Friday, January 10th. Finally, Truist Financial reiterated a “buy” rating and issued a $110.00 price target (up previously from $100.00) on shares of Q2 in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Q2 presently has an average rating of “Moderate Buy” and an average price target of $99.73.

Insider Activity at Q2

In other Q2 news, President Kirk L. Coleman sold 10,428 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $106.42, for a total transaction of $1,109,747.76. Following the completion of the sale, the president now directly owns 337,643 shares in the company, valued at $35,931,968.06. This represents a 3.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Offerdahl sold 548 shares of Q2 stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $104.95, for a total value of $57,512.60. Following the completion of the transaction, the director now owns 18,241 shares in the company, valued at approximately $1,914,392.95. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,836 shares of company stock worth $3,061,035. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Q2

Several hedge funds have recently modified their holdings of QTWO. Proficio Capital Partners LLC acquired a new stake in shares of Q2 during the fourth quarter valued at about $29,000. Quarry LP boosted its position in shares of Q2 by 988.2% during the 3rd quarter. Quarry LP now owns 370 shares of the technology company’s stock valued at $30,000 after purchasing an additional 336 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Q2 during the fourth quarter worth approximately $30,000. TCTC Holdings LLC bought a new stake in Q2 in the fourth quarter worth approximately $30,000. Finally, Ameliora Wealth Management Ltd. acquired a new position in Q2 in the fourth quarter valued at approximately $32,000.

Q2 Price Performance

The business has a fifty day simple moving average of $99.35 and a 200-day simple moving average of $88.05. The stock has a market capitalization of $5.87 billion, a P/E ratio of -100.36 and a beta of 1.61. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.50 and a current ratio of 2.50.

Q2 (NYSE:QTWO) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.30). Q2 had a negative net margin of 8.40% and a negative return on equity of 2.30%. Sell-side analysts expect that Q2 Holdings, Inc. will post 0.08 earnings per share for the current fiscal year.

Q2 Company Profile

Q2 Holdings, Inc provides cloud-based digital solutions to regional and community financial institutions in the United States. The company offers Digital Banking Platform, an end-to-end digital banking platform supports its financial institution customers in their delivery of unified digital banking services across digital channels.